Table 1b: Quarterly balance of payments of the euro area with a geographical breakdown
(EUR billions, unless otherwise indicated; four-quarter cumulated transactions, non-seasonally adjusted data)
| Total | European Union 27 (outside the euro area) | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | Denmark | Sweden | UnitedKingdom | Other EUcountries | EUinstitutions | ||||||||||
| 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | ||
| Source: ECB. | |||||||||||||||
| ( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+). | |||||||||||||||
| Current account | -1.9 | -6.1 | 86.8 | 101.8 | 5.3 | 8.3 | 2.8 | 1.6 | 77.4 | 73.4 | 35.4 | 54.4 | -34.1 | -35.9 | |
| credit | 2,066.1 | 2,338.7 | 775.3 | 880.1 | 43.0 | 47.9 | 66.5 | 73.5 | 405.6 | 453.6 | 199.9 | 244.4 | 60.3 | 60.7 | |
| debit | 2,067.9 | 2,344.8 | 688.5 | 778.3 | 37.7 | 39.6 | 63.7 | 71.9 | 328.2 | 380.2 | 164.6 | 190.0 | 94.4 | 96.6 | |
| Goods | 45.4 | 30.5 | 89.4 | 102.6 | 3.0 | 4.3 | 4.0 | 3.8 | 52.3 | 51.9 | 30.0 | 42.6 | 0.1 | 0.1 | |
| credit (exports) | 1,224.2 | 1,390.0 | 440.5 | 500.1 | 29.2 | 31.5 | 45.0 | 49.7 | 207.4 | 224.3 | 158.7 | 194.5 | 0.1 | 0.1 | |
| as percentage of total | 100.0 | 100.0 | 36.0 | 36.0 | 2.4 | 2.3 | 3.7 | 3.6 | 16.9 | 16.1 | 13.0 | 14.0 | 0.0 | 0.0 | |
| debit (imports) | 1,178.9 | 1,359.5 | 351.1 | 397.5 | 26.3 | 27.2 | 41.0 | 45.9 | 155.1 | 172.5 | 128.7 | 152.0 | 0.0 | 0.0 | |
| as percentage of total | 100.0 | 100.0 | 29.8 | 29.2 | 2.2 | 2.0 | 3.5 | 3.4 | 13.2 | 12.7 | 10.9 | 11.2 | 0.0 | 0.0 | |
| Services | 34.8 | 36.6 | 27.0 | 27.5 | 1.2 | 1.5 | 1.9 | 2.3 | 23.5 | 21.5 | -4.5 | -3.0 | 4.8 | 5.1 | |
| credit (exports) | 401.8 | 429.8 | 144.8 | 154.3 | 8.1 | 8.7 | 11.1 | 11.7 | 99.3 | 104.3 | 21.4 | 24.5 | 5.0 | 5.2 | |
| as percentage of total | 100.0 | 100.0 | 36.0 | 35.9 | 2.0 | 2.0 | 2.8 | 2.7 | 24.7 | 24.3 | 5.3 | 5.7 | 1.2 | 1.2 | |
| debit (imports) | 367.0 | 393.2 | 117.8 | 126.8 | 6.9 | 7.2 | 9.1 | 9.3 | 75.8 | 82.8 | 25.9 | 27.4 | 0.2 | 0.1 | |
| as percentage of total | 100.0 | 100.0 | 32.1 | 32.3 | 1.9 | 1.8 | 2.5 | 2.4 | 20.6 | 21.1 | 7.1 | 7.0 | 0.0 | 0.0 | |
| Income | -11.6 | 1.8 | 8.9 | 11.2 | 1.1 | 2.5 | -2.7 | -4.3 | 0.2 | -1.2 | 10.3 | 15.3 | 0.0 | -1.1 | |
| credit | 354.7 | 432.6 | 126.7 | 162.4 | 5.2 | 7.2 | 9.7 | 11.5 | 88.8 | 114.5 | 17.6 | 22.9 | 5.3 | 6.3 | |
| debit | 366.2 | 430.8 | 117.9 | 151.2 | 4.1 | 4.8 | 12.4 | 15.8 | 88.6 | 115.7 | 7.3 | 7.6 | 5.3 | 7.4 | |
| of which: investment income | -18.0 | -4.4 | 8.7 | 11.3 | 1.0 | 2.4 | -2.8 | -4.3 | -0.5 | -1.8 | 14.2 | 19.4 | -3.1 | -4.4 | |
| credit | 339.0 | 416.5 | 121.2 | 157.0 | 5.1 | 7.1 | 9.6 | 11.4 | 87.0 | 112.8 | 17.4 | 22.7 | 2.2 | 3.0 | |
| debit | 357.0 | 420.8 | 112.5 | 145.7 | 4.1 | 4.7 | 12.4 | 15.7 | 87.5 | 114.5 | 3.2 | 3.4 | 5.3 | 7.4 | |
| Current transfers | -70.5 | -75.0 | -38.4 | -39.4 | 0.0 | 0.0 | -0.4 | -0.2 | 1.3 | 1.2 | -0.3 | -0.5 | -39.0 | -40.0 | |
| credit | 85.4 | 86.3 | 63.3 | 63.3 | 0.5 | 0.5 | 0.6 | 0.7 | 10.0 | 10.4 | 2.3 | 2.5 | 49.9 | 49.2 | |
| debit | 155.9 | 161.3 | 101.7 | 102.7 | 0.4 | 0.5 | 1.1 | 0.8 | 8.7 | 9.2 | 2.6 | 3.1 | 88.9 | 89.2 | |
| Capital account | 12.1 | 11.3 | 19.3 | 16.8 | -0.0 | -0.0 | -0.0 | -0.1 | 0.2 | -0.5 | -0.1 | -0.1 | 19.2 | 17.5 | |
| credit | 24.1 | 23.7 | 20.6 | 18.8 | 0.0 | 0.0 | 0.1 | 0.0 | 0.9 | 0.8 | 0.2 | 0.2 | 19.4 | 17.7 | |
| debit | 12.0 | 12.4 | 1.3 | 2.0 | 0.0 | 0.0 | 0.1 | 0.2 | 0.7 | 1.2 | 0.2 | 0.3 | 0.2 | 0.2 | |
| Financial account balance1) | 25.5 | 134.0 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Direct investment | -210.0 | -156.7 | -116.7 | -70.6 | 1.0 | 2.6 | 10.7 | 11.0 | -114.3 | -52.7 | -14.1 | -31.6 | 0.0 | 0.1 | |
| Abroad | -301.6 | -314.8 | -173.6 | -159.2 | 0.1 | -0.5 | -0.9 | 3.8 | -142.8 | -131.0 | -30.0 | -31.5 | 0.0 | -0.0 | |
| Equity/reinvested earnings | -242.0 | -264.2 | -148.5 | -148.1 | -3.4 | -0.8 | -5.8 | 4.1 | -109.6 | -123.6 | -29.7 | -27.8 | 0.0 | -0.0 | |
| Other capital | -59.7 | -50.6 | -25.1 | -11.0 | 3.5 | 0.3 | 4.9 | -0.3 | -33.2 | -7.4 | -0.3 | -3.7 | 0.0 | 0.0 | |
| In the euro area | 91.6 | 158.1 | 57.0 | 88.6 | 0.9 | 3.1 | 11.6 | 7.2 | 28.5 | 78.3 | 16.0 | -0.1 | 0.0 | 0.1 | |
| Equity/reinvested earnings | 64.0 | 128.8 | 44.7 | 66.6 | 1.4 | 2.7 | 8.4 | 4.0 | 32.5 | 60.6 | 2.5 | -0.9 | 0.0 | 0.1 | |
| Other capital | 27.7 | 29.3 | 12.2 | 22.0 | -0.5 | 0.4 | 3.3 | 3.2 | -4.1 | 17.6 | 13.5 | 0.8 | 0.0 | -0.0 | |
| Portfolio investment | 146.1 | 273.1 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Assets | -411.3 | -477.1 | -147.2 | -125.3 | -9.2 | -2.5 | -11.0 | -12.9 | -100.5 | -100.4 | -18.1 | -8.3 | -8.4 | -1.2 | |
| Equity | -134.3 | -129.5 | -24.1 | -5.5 | -1.9 | 0.7 | -6.2 | -3.3 | -13.4 | -2.4 | -2.6 | -0.4 | 0.0 | -0.1 | |
| Debt | -277.0 | -347.6 | -123.1 | -119.8 | -7.3 | -3.2 | -4.8 | -9.6 | -87.1 | -98.0 | -15.4 | -8.0 | -8.4 | -1.0 | |
| Bonds and notes | -262.5 | -286.4 | -105.4 | -89.6 | -7.5 | -2.3 | -3.6 | -9.2 | -69.4 | -69.9 | -16.1 | -7.2 | -8.8 | -1.0 | |
| Money market instruments | -14.6 | -61.3 | -17.7 | -30.2 | 0.2 | -0.9 | -1.2 | -0.4 | -17.7 | -28.1 | 0.7 | -0.7 | 0.4 | -0.1 | |
| Liabilities | 557.4 | 750.2 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Equity | 263.2 | 290.3 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Debt | 294.2 | 459.9 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Bonds and notes | 248.6 | 459.3 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Money market instruments | 45.6 | 0.6 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Financial derivatives | -13.9 | -2.6 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Other investment | 85.3 | 21.7 | 43.0 | -80.8 | -3.9 | -16.8 | 21.2 | 7.4 | 18.6 | -71.6 | -6.9 | -15.6 | 13.9 | 15.7 | |
| Assets | -569.1 | -751.0 | -394.3 | -548.6 | -13.6 | -36.2 | 15.2 | -3.4 | -365.3 | -473.1 | -28.7 | -36.2 | -1.8 | 0.3 | |
| General government | 5.1 | 3.4 | -1.2 | -6.3 | 1.1 | -1.9 | -0.3 | 0.2 | -3.5 | -5.0 | 1.4 | 0.1 | 0.0 | 0.2 | |
| MFIs | -396.4 | -525.0 | -241.5 | -356.2 | -13.5 | -33.6 | 14.9 | 0.1 | -214.5 | -290.9 | -27.0 | -32.0 | -1.4 | 0.2 | |
| Other sectors | -177.7 | -229.3 | -151.6 | -186.1 | -1.2 | -0.7 | 0.5 | -3.7 | -147.3 | -177.2 | -3.1 | -4.3 | -0.4 | -0.1 | |
| Liabilities | 654.3 | 772.6 | 437.3 | 467.8 | 9.7 | 19.5 | 6.0 | 10.8 | 384.0 | 401.5 | 21.8 | 20.6 | 15.7 | 15.4 | |
| General government | -2.2 | 1.2 | -0.7 | 2.0 | -0.0 | 0.0 | 0.0 | 0.0 | -3.0 | 0.1 | 0.0 | 0.0 | 2.3 | 1.8 | |
| MFIs | 490.2 | 507.7 | 313.3 | 256.2 | 9.1 | 19.5 | 4.7 | 9.4 | 271.4 | 208.0 | 20.1 | 17.4 | 8.0 | 1.9 | |
| Other sectors | 166.4 | 263.7 | 124.7 | 209.6 | 0.7 | -0.0 | 1.3 | 1.4 | 115.6 | 193.3 | 1.7 | 3.2 | 5.4 | 11.7 | |
| Reserve assets | 18.0 | -1.5 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Errors and omissions | -35.8 | -139.3 | - | - | - | - | - | - | - | - | - | - | - | - | |
Table 1b: Quarterly balance of payments of the euro area with a geographical breakdown (continued)
(EUR billions, unless otherwise indicated; four-quarter cumulated transactions, non-seasonally adjusted data)
| Canada | Japan | Switzerland | United States | Offshorefinancialcentres | Internationalorganisations | Other countries | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | 2005Q1 to 2005Q4 | 2006Q1 to 2006Q4 | ||
| Source: ECB. | |||||||||||||||
| ( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+). | |||||||||||||||
| Current account | 8.2 | 8.5 | -28.0 | -33.1 | 6.2 | 8.7 | 46.8 | 58.5 | - | - | - | - | -121.9 | -150.5 | |
| credit | 27.5 | 31.0 | 53.4 | 54.6 | 139.1 | 153.1 | 349.9 | 384.9 | - | - | - | - | 720.9 | 835.1 | |
| debit | 19.2 | 22.5 | 81.3 | 87.7 | 132.9 | 144.4 | 303.1 | 326.4 | - | - | - | - | 842.8 | 985.6 | |
| Goods | 6.4 | 7.2 | -17.8 | -19.4 | 8.9 | 9.7 | 68.0 | 69.1 | - | - | - | - | -109.5 | -138.5 | |
| credit (exports) | 15.6 | 17.8 | 33.6 | 34.1 | 69.3 | 77.8 | 182.0 | 200.9 | - | - | - | - | 483.3 | 559.3 | |
| as percentage of total | 1.3 | 1.3 | 2.7 | 2.5 | 5.7 | 5.6 | 14.9 | 14.5 | - | - | - | - | 39.5 | 40.2 | |
| debit (imports) | 9.2 | 10.6 | 51.4 | 53.6 | 60.4 | 68.1 | 114.0 | 131.8 | - | - | - | - | 592.8 | 697.8 | |
| as percentage of total | 0.8 | 0.8 | 4.4 | 3.9 | 5.1 | 5.0 | 9.7 | 9.7 | - | - | - | - | 50.3 | 51.3 | |
| Services | 0.2 | 0.5 | 4.0 | 3.6 | 7.8 | 11.1 | -6.2 | -6.9 | - | - | - | - | 2.0 | 0.8 | |
| credit (exports) | 5.5 | 6.1 | 11.4 | 11.3 | 39.5 | 41.9 | 76.5 | 79.6 | - | - | - | - | 124.1 | 136.6 | |
| as percentage of total | 1.4 | 1.4 | 2.8 | 2.6 | 9.8 | 9.7 | 19.0 | 18.5 | - | - | - | - | 30.9 | 31.8 | |
| debit (imports) | 5.3 | 5.6 | 7.4 | 7.7 | 31.7 | 30.8 | 82.7 | 86.5 | - | - | - | - | 122.2 | 135.8 | |
| as percentage of total | 1.4 | 1.4 | 2.0 | 2.0 | 8.6 | 7.8 | 22.5 | 22.0 | - | - | - | - | 33.3 | 34.5 | |
| Income | 2.7 | 1.9 | -14.6 | -17.0 | -11.5 | -12.8 | -13.0 | -3.1 | - | - | - | - | 16.0 | 21.6 | |
| credit | 6.0 | 6.8 | 7.6 | 8.9 | 24.0 | 27.3 | 84.4 | 97.9 | - | - | - | - | 106.1 | 129.3 | |
| debit | 3.3 | 4.9 | 22.2 | 26.0 | 35.5 | 40.1 | 97.3 | 101.0 | - | - | - | - | 90.1 | 107.7 | |
| of which: investment income | 2.7 | 1.9 | -14.6 | -17.0 | -17.2 | -18.6 | -13.5 | -3.6 | - | - | - | - | 15.9 | 21.7 | |
| credit | 5.9 | 6.7 | 7.5 | 8.9 | 17.6 | 21.0 | 82.8 | 96.5 | - | - | - | - | 103.9 | 126.5 | |
| debit | 3.2 | 4.8 | 22.1 | 25.9 | 34.8 | 39.6 | 96.3 | 100.1 | - | - | - | - | 88.0 | 104.7 | |
| Current transfers | -1.1 | -1.0 | 0.5 | -0.3 | 0.9 | 0.7 | -2.0 | -0.6 | - | - | - | - | -30.4 | -34.4 | |
| credit | 0.4 | 0.4 | 0.8 | 0.2 | 6.3 | 6.1 | 7.1 | 6.5 | - | - | - | - | 7.4 | 9.8 | |
| debit | 1.5 | 1.4 | 0.3 | 0.4 | 5.4 | 5.4 | 9.1 | 7.1 | - | - | - | - | 37.8 | 44.3 | |
| Capital account | -0.1 | -0.1 | 0.1 | 0.4 | 0.1 | -0.1 | 0.0 | -0.3 | - | - | - | - | -7.2 | -5.3 | |
| credit | 0.0 | 0.0 | 0.1 | 0.4 | 0.6 | 0.4 | 0.6 | 0.9 | - | - | - | - | 2.2 | 3.2 | |
| debit | 0.1 | 0.1 | 0.0 | 0.0 | 0.5 | 0.5 | 0.6 | 1.2 | - | - | - | - | 9.4 | 8.5 | |
| Financial account balance1) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Direct investment | -3.1 | -6.9 | -8.6 | 11.7 | -9.1 | -3.7 | -15.1 | -47.3 | -14.5 | 9.4 | 0.2 | -0.0 | -43.2 | -49.4 | |
| Abroad | -7.6 | -9.9 | -12.0 | 4.0 | -15.6 | -8.4 | -8.5 | -66.1 | -28.2 | -25.2 | 0.0 | -0.0 | -56.1 | -50.0 | |
| Equity/reinvested earnings | -6.7 | -8.0 | -12.4 | 6.8 | -16.1 | -1.0 | 6.5 | -47.4 | -23.1 | -17.7 | 0.0 | 0.0 | -41.7 | -48.8 | |
| Other capital | -0.9 | -1.8 | 0.4 | -2.9 | 0.4 | -7.4 | -15.0 | -18.8 | -5.1 | -7.5 | 0.0 | -0.0 | -14.4 | -1.2 | |
| In the euro area | 4.5 | 3.0 | 3.4 | 7.8 | 6.5 | 4.7 | -6.6 | 18.8 | 13.7 | 34.6 | 0.2 | 0.0 | 12.9 | 0.6 | |
| Equity/reinvested earnings | 3.2 | 0.3 | 2.8 | 4.8 | 4.3 | 10.2 | -16.3 | 1.1 | 14.8 | 42.3 | 0.0 | 0.0 | 10.5 | 3.6 | |
| Other capital | 1.3 | 2.7 | 0.6 | 3.0 | 2.2 | -5.5 | 9.8 | 17.8 | -1.1 | -7.7 | 0.2 | 0.0 | 2.4 | -3.0 | |
| Portfolio investment | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Assets | -8.5 | -7.7 | -40.7 | -6.8 | -3.5 | -5.2 | -78.8 | -161.0 | -56.4 | -96.3 | -0.1 | -1.0 | -76.1 | -73.7 | |
| Equity | -2.3 | -2.2 | -23.3 | -14.4 | -3.8 | -1.5 | -25.0 | -43.5 | -18.5 | -30.5 | -0.2 | -0.1 | -37.1 | -31.8 | |
| Debt | -6.2 | -5.5 | -17.4 | 7.5 | 0.3 | -3.7 | -53.7 | -117.5 | -38.0 | -65.8 | 0.1 | -0.8 | -39.0 | -42.0 | |
| Bonds and notes | -6.8 | -4.8 | -14.9 | -3.1 | 1.3 | -1.5 | -68.6 | -93.9 | -34.1 | -47.7 | 0.4 | -0.4 | -34.4 | -45.4 | |
| Money market instruments | 0.6 | -0.7 | -2.6 | 10.6 | -1.0 | -2.3 | 14.8 | -23.6 | -3.9 | -18.1 | -0.2 | -0.5 | -4.6 | 3.4 | |
| Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Equity | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Bonds and notes | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Money market instruments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Financial derivatives | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Other investment | -3.5 | 2.0 | 13.4 | 41.7 | -4.4 | -28.0 | 4.7 | 21.0 | 10.5 | 27.3 | 1.0 | 15.7 | 20.7 | 22.8 | |
| Assets | -6.9 | -0.3 | 0.3 | 26.0 | -19.6 | -57.4 | -32.6 | -49.0 | -46.5 | -71.5 | -2.7 | -2.0 | -66.6 | -48.0 | |
| General government | -0.1 | 0.1 | -0.0 | -0.4 | -0.1 | 0.0 | 0.3 | 0.2 | -0.0 | 0.1 | -1.6 | -1.2 | 7.7 | 10.9 | |
| MFIs | -4.8 | -1.4 | 3.8 | 24.5 | -15.2 | -50.7 | -44.7 | -53.1 | -43.2 | -42.8 | -0.8 | -0.9 | -50.1 | -44.4 | |
| Other sectors | -2.1 | 1.0 | -3.5 | 1.8 | -4.3 | -6.7 | 11.7 | 3.8 | -3.3 | -28.7 | -0.4 | 0.1 | -24.3 | -14.5 | |
| Liabilities | 3.4 | 2.3 | 13.1 | 15.8 | 15.2 | 29.4 | 37.3 | 70.0 | 57.1 | 98.8 | 3.7 | 17.7 | 87.3 | 70.8 | |
| General government | 0.0 | 0.0 | -0.1 | -0.2 | 0.0 | -0.6 | -0.0 | -0.7 | -0.1 | 0.1 | -1.0 | 2.8 | -0.3 | -2.1 | |
| MFIs | 3.3 | 1.1 | 12.2 | 12.6 | 10.9 | 26.3 | 17.1 | 37.7 | 55.3 | 94.1 | 5.1 | 15.0 | 73.0 | 64.6 | |
| Other sectors | 0.1 | 1.2 | 1.0 | 3.4 | 4.2 | 3.6 | 20.2 | 33.0 | 1.9 | 4.6 | -0.4 | -0.1 | 14.5 | 8.4 | |
| Reserve assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Errors and omissions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |